Rental Bond Loans Victoria

Our Personal Loans can help you pay for rental bonds and other moving costs in Victoria.

Borrow $3,000 to $25,000
Same-Day Approval2
25-36 month terms
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Check If You Qualify

With no impact on your credit score!

*Subject to lending criteria, T's and C's'

*Subject to lending criteria, T's and C's'

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Why get a Rental Bond Loan with Jacaranda Finance?

A rental bond is a security deposit paid by renters to either the property manager or the landlord at the start of a tenancy agreement. Rental bonds can cost thousands of dollars if they're not split between multiple people and usually need to be paid upfront.

A Rental Bond Personal Loan with Jacaranda Finance can allow you to pay that deposit quickly without dipping into your hard-earned savings. Instead, you can repay a loan from $3,000 over manageable instalments starting from 25 months.

The Application Process

We Make Applying Easy

We know how important it is to receive your funds in a timely manner. As a hard-working Australian, you don't have time to waste on needless paperwork.

That's why Jacaranda Finance makes applying for a Personal Loan to cover rental bonds and moving expenses simple with our fast, 100% online application.

Check if you qualify without affecting your credit score today.

What is the average rent in Victoria?

Known for its bustling lifestyle and delicious coffee, it's no wonder many people choose to settle down in Victoria's capital Melbourne.

According to the Domain Rental Report for March 2024, renting in Melbourne is surprisingly not too expensive:

  • The average weekly house rent was $570
  • The average weekly unit rent was $550
  • The average for both was $560

That’s actually below the average rent compared with other capital cities. The average weekly rent for houses and units in the combined capitals was $630.

Though Melbourne is still one of the most affordable capital cities to rent in, rent is still quite expensive, making rental bonds quite expensive, too.

How much is a rental bond in Victoria?

In most cases, a rental bond in Victoria cannot be more than one month's rent. In other cases, a rental provider can ask for a higher bond amount when either the weekly rent for the property is more than $900, or the Victorian Civil and Administrative Tribunal (VCAT) sets a higher bond. The latter could be pursued due to the character of the property or the quality of fittings and furniture.

To give an idea of how much this could cost, we’ll use the average weekly rent for both units and houses of $560. Multiplied by four weeks for a bond payment, the typical bond in Victoria could cost $2,240.

Some property managers or landlords also ask for two weeks' rent in advance for extra security on top of the bond. This would amount to $3,360 in total—quite a hefty lump sum, even when split between two or more tenants!

To alleviate some of the pressures of moving, consider applying for a Personal Loan with Jacaranda Finance. Our loans range from $3,000 all the way up to $25,000, which could be more than enough for you to pay your bond, moving costs, and anything in between to get settled.

A street in Melbourne with a tram coming

Where Else Can You Get a Rental Bond Loan?

See below for more detailed information on rental bonds and Rental Bond Loans in each state/territory.

Rental Bonds in Victoria: What You Need to Know

Unsure about how the bond process works as a renter in Victoria? We've compiled some key pieces of information that may answer your questions.

Refer to the resources tab at the end for official sources of information when it comes to paying a rental bond in Victoria.

In Victoria, only the rental provider, property manager, or landlord can lodge a bond on behalf of the tenant. A tenant is required to send the bond to the appropriate party, who will then lodge the bond through the Residential Tenancies Bond Authority (RTBA). The tenants will then be notified of the transaction.

The bond will be held at the RTBA for the entirety of the rental agreement. When the tenancy has ended, it will be transferred back to the tenants unless the rental provider claims it for any reason.

A rental provider, property manager or agent will do a final inspection at the end of the rental agreement. The condition report should be used to compare any changes to the property during the agreement.

If everything is in order, the bond claim can be initiated. Bond claims can be started by either the rental provider or the renter, though the rental provider or agent typically initiates it. The bond will usually be paid out within one business day when the rental provider uses RTBA Online.

See also: 10 Tips to Get Your Rental Bond Back.

Rental bonds are refunded to the tenants unless the rental provider makes a claim for compensation. Reasons for claims include:

  • If the renter has damaged the property
  • If the renter owes the rental provider for rent or charges
  • If the renter has not left the property reasonably clean
  • If the renter made certain changes to the property without asking.

Rental providers cannot claim bonds for fair wear and tear and can only start the claim once everyone has agreed on how the bond should be divided. They must start claims within 10 business days of the rental agreement ending.

If a landlord and renter cannot agree on how to split the bond, either the renter or rental provider can apply to VCAT for a hearing. VCAT will hear the case and decide how to divide the bond.

Rental providers may also apply to VCAT to claim compensation that exceeds the bond amount, which will incur a fee.

The go-to governing bodies for renting in Australia are Consumer Affairs Victoria and Residential Tenancies Bond Authority.

Tenants Victoria is a union for Victorian tenants and a resourceful website with information about housing, rental laws and tenancies in general.

Our Rates & Fees

Our loans are designed to be fast, fair, and, above all, affordable, with no hidden fees. See the table below for a quick guide to our charges, or visit our fees page to learn more. For detailed information about who our products are designed for, please review our Target Market Determinations.

Interest Rate
Comparison Rate
Loan Term
Repayment Cycle
Secured or
Unsecured
Establishment Fees
Monthly Fees
Risk Fee
Comparison Rate Warning*
  • Car Loan
    $10,000 - $25,000
    Interest Rate
    16.95% - 29.95%
    Comparison Rate
    32.99% - 45.50%
    Loan Term
    25 - 48 months
    Repayment Cycle
    Weekly, Fortnightly, Monthly
    Secured or
    Unsecured
    Secured
    Establishment Fees
    $950 - $1,190
    Monthly Fees
    $26 p/month
    Risk Fee
    $585 - $995
    Comparison Rate Warning*
    The comparison rate is based on $10,000 over 36 months. WARNING: This comparison rate is true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate.
  • Unsecured
    Personal Loan
    $3,000 - $10,000
    Interest Rate
    27.95% - 29.95%
    Comparison Rate
    44.50% - 46.50%
    Loan Term
    25 months
    Repayment Cycle
    Weekly, Fortnightly, Monthly
    Secured or
    Unsecured
    Unsecured
    Establishment Fees
    $13.50 - $950
    Monthly Fees
    $26 p/month
    Risk Fee
    $0 - $325.50
    Comparison Rate Warning*
    The comparison rate is based on $10,000 over 36 months. WARNING: This comparison rate is true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate.
  • Secured
    Personal Loan
    $3,000 - $25,000
    Interest Rate
    16.95% - 29.95%
    Comparison Rate
    32.99% - 45.50%
    Loan Term
    25 - 36 months
    Repayment Cycle
    Weekly, Fortnightly, Monthly
    Secured or
    Unsecured
    Secured
    Establishment Fees
    $125 - $1,190
    Monthly Fees
    $26 p/month
    Risk Fee
    $0 - $995
    Comparison Rate Warning*
    The comparison rate is based on $10,000 over 36 months. WARNING: This comparison rate is true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate.
This is not an offer for credit. The amount you can borrow as well as the offer you receive may vary once you complete an application and all relevant details are captured and verified. Fees, credit criteria and terms and conditions apply. Example tables and calculators are illustrative only and are not intended to be your sole source of information when making a financial decision. Consider whether to get advice from a licensed financial adviser.
  • Car Loan
    $10,000 - $25,000
    Interest Rate
    16.95% - 29.95%
    Comparison Rate
    32.99% - 45.50%
    Loan Term
    25 - 48 months
    Secured or
    Unsecured
    Secured
    Monthly Fees
    $26 p/month
    Repayment Cycle
    Weekly, Fortnightly, Monthly
    Establishment Fees
    $950 - $1,190
    Risk Fee
    $585 - $995
    The comparison rate is based on $10,000 over 36 months. WARNING: This comparison rate is true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate.
  • Unsecured
    Personal Loan
    $3,000 - $10,000
    Interest Rate
    27.95% - 29.95%
    Comparison Rate
    44.50% - 46.50%
    Loan Term
    25 months
    Secured or
    Unsecured
    Unsecured
    Monthly Fees
    $26 p/month
    Repayment Cycle
    Weekly, Fortnightly, Monthly
    Establishment Fees
    $13.50 - $950
    Risk Fee
    $0 - $325.50
    The comparison rate is based on $10,000 over 36 months. WARNING: This comparison rate is true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate.
  • Secured
    Personal Loan
    $3,000 - $25,000
    Interest Rate
    16.95% - 29.95%
    Comparison Rate
    32.99% - 45.50%
    Loan Term
    25 - 36 months
    Secured or
    Unsecured
    Secured
    Monthly Fees
    $26 p/month
    Repayment Cycle
    Weekly, Fortnightly, Monthly
    Establishment Fees
    $125 - $1,190
    Risk Fee
    $0 - $995
    The comparison rate is based on $10,000 over 36 months. WARNING: This comparison rate is true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate.
This is not an offer for credit. The amount you can borrow as well as the offer you receive may vary once you complete an application and all relevant details are captured and verified. Fees, credit criteria and terms and conditions apply. Example tables and calculators are illustrative only and are not intended to be your sole source of information when making a financial decision. Consider whether to get advice from a licensed financial adviser.

Loan Eligibility Criteria

  • Be at least 19 years of age
  • Be employed on a permanent or casual basis, with consistent income for 90 days
  • Be an Australian citizen or permanent resident with a fixed address.
  • Have an active email address, phone number, & online banking details in your name.
  • Be in control of your current finances and handling existing financial commitments comfortably.
You can check if you qualify initially if you aren’t sure whether you're eligible. This won’t impact your credit score.
Information you will need to provide:
  • Basic personal information (i.e. full name, address, D.O.B, number of dependants etc.)
  • Employment status & details
  • Your bank statements*: we will assess the last 12 months of your bank statements to help determine if you can afford to repay your loan.

*This is standard procedure for loan applications across the industry. Data is safely secured with 256-bit SSL encryption. We utilise safe and secure third-party Open Banking service providers to make this quick and easy for you.
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    I found jacaranda after a few other places wouldn't even look at my application, there process was pretty quick, got a response almost immediately and a good deal! Can't ask for much more, would use again and recommend.
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Boost Your Credit Score With Jacaranda

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    Check your eligibility

    Worried about being denied a loan? No stress! At Jacaranda, QualifyCheck lets you check if you qualify without affecting your credit score!

  • CCR
    Comprehensive Credit Reporting (CCR)

    Making all your repayments to us on time could steadily improve your credit score and positively impact your ability to get credit in the future.

  • Group-39960-1 (1)
    Check your eligibility

    Worried about being denied a loan? No stress! At Jacaranda, QualifyCheck lets you check if you qualify without affecting your credit score!

  • CCR
    Comprehensive Credit Reporting (CCR)

    Making all your repayments to us on time could steadily improve your credit score and positively impact your ability to get credit in the future.

  • VIC Rental Bond Loan FAQs

    Need more information? Here are the answers to some of our most frequently asked questions about our loans.

    A rental bond loan is simply a loan you can use to pay for your rental deposit and any other associated moving costs.

    Instead of dipping into your hard-earned savings, a Jacaranda Finance Personal Loan lets you repay the money in manageable instalments starting from 25 months.

    A bond is a sum of money paid by a tenant to a landlord or agent before moving into a property. It acts as security against any potential damage or unpaid rent during the lease period. The bond is typically lodged with a government authority, governed by state laws, ensuring fair handling and dispute resolution.

    When the lease agreement ends, the bond is refunded to the tenant if there are no outstanding issues. Different rules may apply per state, so we recommend reviewing local legislation for accurate tenancy guidelines.

    You can apply for varying loan amounts with Jacaranda, depending on your needs:

    For detailed information about who our products are designed for, please review our Target Market Determinations.

    Use our loan repayment estimate calculator to get a guide on what your repayments could be. To get an idea of what rates, fees and charges are associated with our loans, visit our rates and fees page.

    Our loan application process has been designed to be as simple and quick as possible, as we know how important it is to receive your funds in a timely manner. How quickly you can apply for a personal loan and receive your funds will depend on your situation.

    Applying for a loan with Jacaranda Finance takes most people 5-12 minutes1, but it could take longer depending on a number of factors such as but not limited to how fast you are at typing or if you have all the required information on hand.

    After applying, most customers get an outcome on their loan application on the same day during normal business hours once we have received all of the supporting information we require. We do not guarantee same-day outcomes for all customers.2

    Once an applicant has been approved and they have signed a contract, we automatically attempt to release the money to the applicant's bank account. Most customers have a New Payments Platform (NPP) bank account and receive the money in their bank account within 60 seconds. For other customers, the money will be available overnight on weekdays and overnight the following business day if approved on a weekend or public holiday.3

    Before you formally apply with Jacaranda, you can check if you qualify for a loan in a way that does not impact your credit score. We do this by performing a 'soft' credit check that is only visible to you.

    If you don't meet our initial criteria, your credit score won't be affected.

    Once you've checked your eligibility and we've let you know that you do qualify for a loan, you have the option to move forward with a full application.

    We will perform a credit assessment during this process, which involves checking your credit report. By submitting a full application, you authorise Jacaranda Finance to obtain a copy of your full credit file, referred to as a 'hard' credit check.

    Other lenders will be able to see that you applied for a loan with Jacaranda.

    This might impact your credit score.

    Review our Privacy Policy for more information.

    Repayments on your loan are automatically set up to be deducted via direct debit from your bank account in line with your pay cycle.

    You can view your repayments from either the Better Credit app or online portal and contact our friendly customer service team to request any changes that you need.

    Download the app on the Google or Apple store today.

    Read more: Personal Loan Repayments 101.